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Exicom eyes $85 mn from Tritium divestment to double down on India EV charging growth

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Exicom eyes $85 mn from Tritium divestment to double down on India EV charging growth

Exicom eyes $85 mn from Tritium divestment to double down on India EV charging growth

The Gurugram-based company is also targeting an increase in exports' contribution to total revenue from around 10 per cent in FY27 to 30 per cent over the next three years.

New Delhi: Electric vehicle (EV) charging solution provider Exicom is planning to divest its global EV charging subsidiary Tritium at an enterprise value of around $85 million to sharpen its focus on India's growing EV charging market. This potential capital would help the company to expand its EV charging division which has crossed ₹100 crore in quarterly revenue for the first time. The proposed disinvestment is a crucial shift in Exicom’s capital allocation strategy, with the company looking to channel more resources into markets where it already has an established presence and is witnessing demand outpace its supply capabilities. Advt

"At this time, we are interested to really double up in the geographies that we understand best, where we are already having demand outrunning our supply capability," Managing Director and CEO Anant Nahata told ETAuto. Exicom acquired Tritium, an EV charger manufacturer in 2024, to strengthen its US and European markets presence through the latter's product portfolio and technology. The company entered into a non-binding term sheet with a potential acquirer for the proposed divestment. The final consideration will be determined at a later stage, said the management. According to Nahata, the acquisition has helped revive the business from negligible revenues to contributing around 25 per cent of Exicom's consolidated revenue.


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